Natural Language Processing Poised to Have a Big Impact on the Data Economy - DATAVERSITY

The stakes are large in the Natural Language Processing (NLP) market: It's the high ground in the battle for control of the data economy and the key to turning silicon into gold, according to a report issued this quarter from market intelligence firm Tractica. Report authors Bruce Daley, the Principal Analyst, and Clint Wheelock, the Managing Director, cite as an example the upcoming Facebook virtual digital assistant Moneypenny. Noting that Facebook already turns an average daily revenue of 11.96 per active user, they surmise that if the same number of active daily users adopt Moneypenny and generate just an additional 1 in additional ad revenue, the program would add 1 billion to the company's annual top line and almost as much to its bottom line. With these and other tantalizing economic prospects at hand, is it any wonder that big names from Amazon to Apple and from Google to Microsoft – not to mention IBM, Nuance, AT&T, and others – are driving further research into NLP and acquiring companies specializing in the space? This month saw another Natural Language Processing acquisition take place, as well-known CRM vendor SugarCRM purchased Contastic's NLP technology.